Ceres Power (LON:CWR) Stock Price Down 40.4% - Should You Sell?

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price dropped 40.4% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 78.08 ($0.99). Approximately 28,374,732 shares changed hands during mid-day trading, an increase of 1,422% from the average daily volume of 1,864,084 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 650 ($8.21) target price on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Price Performance

The firm has a market cap of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The business has a 50 day simple moving average of GBX 156.02 and a 200-day simple moving average of GBX 184.78.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the business's stock in a transaction dated Thursday, November 28th. The shares were purchased at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Also, insider Stuart Paynter bought 7,151 shares of the business's stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Company insiders own 40.29% of the company's stock.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres' solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.